KYIV. Dec 9 (Interfax-Ukraine) – Ukrainian company Polyteda Cloud designing innovative solutions and services in microchip design automation has raised EUR 1.2 million from the European Union (EU) under the Horizon 2020 programme.
Polyteda Cloud said in a press release that the company has become the first Ukrainian company that won in the program competing with 259 innovative projects from all over Europe.
“Polyteda Cloud is receiving EUR1.221 million financing for a 2-year project “Innovative Cloud-Based PV Workflow for Semiconductor Foundries” that will contribute to restoring the competitiveness of European microelectronics industry,” the company said.
The company will enter the European market with the innovative business model.
Borsch Ventures provides business development expertise and fundraising assistance to Polyteda Cloud.
Borsch Ventures manages a portfolio of high tech companies in industries such as smart agriculture, defense & security, microelectronics and electronics, nanotechnologies and IT.
Horizon 2020 is the biggest EU Research and Innovation programme with nearly EUR 80 billion of funding available over seven years (2014 to 2020). Horizon 2020’s SME Instrument with EUR 3 billion budget is dedicated to funding innovative businesses to create a European Champions League for innovative companies and startups.
